Thomson Reuters (NYSE:TRI) Sets New 1-Year High - Here's Why

Thomson Reuters Co. (NYSE:TRI - Get Free Report) TSE: TRI hit a new 52-week high on Wednesday . The stock traded as high as $179.45 and last traded at $178.63, with a volume of 452328 shares. The stock had previously closed at $178.93.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TRI. CIBC increased their price target on Thomson Reuters from $165.00 to $174.00 in a report on Friday, February 7th. The Goldman Sachs Group increased their price target on Thomson Reuters from $168.00 to $188.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Wells Fargo & Company increased their price objective on Thomson Reuters from $165.00 to $177.00 and gave the stock an "equal weight" rating in a research note on Friday, February 7th. Canaccord Genuity Group increased their price objective on Thomson Reuters from $164.00 to $175.00 and gave the stock a "hold" rating in a research note on Friday, February 7th. Finally, StockNews.com raised Thomson Reuters from a "sell" rating to a "hold" rating in a research note on Wednesday, January 8th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Thomson Reuters presently has a consensus rating of "Hold" and an average price target of $182.09.

Thomson Reuters Price Performance

The firm has a 50-day simple moving average of $165.24 and a 200-day simple moving average of $165.98. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The firm has a market cap of $78.27 billion, a P/E ratio of 35.57, a PEG ratio of 5.59 and a beta of 0.73.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last issued its quarterly earnings data on Thursday, February 6th. The business services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.97 by $0.04. Thomson Reuters had a return on equity of 14.78% and a net margin of 30.45%. As a group, analysts forecast that Thomson Reuters Co. will post 3.96 EPS for the current year.

Thomson Reuters Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Thursday, February 20th will be issued a dividend of $0.595 per share. This represents a $2.38 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Thursday, February 20th. This is a positive change from Thomson Reuters's previous quarterly dividend of $0.54. Thomson Reuters's dividend payout ratio is currently 44.17%.

Institutional Trading of Thomson Reuters

Several hedge funds and other institutional investors have recently made changes to their positions in TRI. Decker Retirement Planning Inc. purchased a new position in Thomson Reuters in the 4th quarter worth $26,000. Curio Wealth LLC purchased a new position in Thomson Reuters in the 4th quarter worth $26,000. SBI Securities Co. Ltd. purchased a new position in Thomson Reuters in the 4th quarter worth $27,000. Noble Wealth Management PBC purchased a new position in Thomson Reuters in the 4th quarter worth $33,000. Finally, Asset Dedication LLC raised its stake in Thomson Reuters by 125.0% in the 3rd quarter. Asset Dedication LLC now owns 234 shares of the business services provider's stock worth $40,000 after acquiring an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 17.31% of the company's stock.

Thomson Reuters Company Profile

Thomson Reuters Corporation engages in the provision of business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment offers research and workflow products focusing on legal research and integrated legal workflow solutions that combine content, tools, and analytics to law firms and governments.